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News/Business. Business news and interviews; with Neil Cavuto.

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Ho 8, Henry Kissinger 8, Us 5, America 5, Benghazi 5, Israel 5, Fbi 4, Lte 3, David Petraeus 3, United States 2, Nexium 2, Rom 2, Iran 2, Washington 2, Hamas 2, Egypt 2, Kissinger 2, Johnson 2, Verizon 2, Scottrade 1,
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  FOX Business    Cavuto    News/Business. Business news  
   and interviews; with Neil Cavuto.  

    November 17, 2012
    6:00 - 7:00pm EST  

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act right now. call the number on your screen now! gardere. have a great night. that is it for us. neil: i think this whole budget thing is looking weak. very, very weak. i am telling you that because of this. the details we are getting are not encouraging. welcome, everybody, i am neil cavuto. this is the scene today. they came out of the white house looking like progress is being made. but what we are being told is not entirely encouraging. a lot of talk about tax hikes. in fact, doubling the total amount than what we were been told before the election. and also more spending. it's hard to believe, but chuck schumer and some others are saying a half trillion dollars for a jobs bill to stimulate the
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economy. my only reason i'm mentioning this is the election had consequences. but it doesn't get its victors an opportunity to review the facts. they did not give a pass to recognizing the severity of the issue. we are spending and we are spent. now, we are seeing more spending. it is not good. the rebound from pete domenici and craig barrett. what do you say? encouraging or not encouraging? >> i'm on your side, neil. the other half loaded keep taxes flat, you have a 5050 standoff.
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bring on the sequestration or simpson-bowles, let's get something done. neil: we stand out with a number of senators. they say don't touch this or that. there is half the game right there. others are talking about adding to that by saying recognizing whever chord you come to, that you count the cuts that we made last year to raise the debt ceiling. that is double booking, double accounting, double trouble, you name it. you know this process well. you know the sausage is made. tell us what wonderful things are really going on. >> well, i think there is a chance we could solve this problem. i'm going to put it this way. i spent two years talking to my party and encouraging them, telling them that we were going to have to have new revenues as part of this mix because
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everything is going to be on the table. now, i have to tell my people that the president of the united states as a leader, has to stand up and tell his members that they have to stand for entitlement reform, just as those of us stood up for new revenues to balance this out. he has to become the leader, telling his people that we have to have entitlement reform. that is going to be earmarked as to whether or not he is the leader that he claims he wants to be in fixing this. neil: may be behind the scenes that's what's going on. but to migrator suspicions, maybe it is not. the fact that it is first the republicrepublic ans saying that we are open to revenues, but no quid pro quo, those who say
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leave entitlements out of it, go back, with numbers that we used a year ago, it's not very encouraging, at least to me. what a thing? >> welcome i think it's very discouraging. very discouraging from the standpoint that talking about raising taxes approach is less than 10% of the nation's problems. that is why i say, let's get on with the task. i don't think either party will give enough to reach a compromise. neil: lizzie leigh cobble together a deal it's not worth what it's written on paper. but in that scenario, i would imagine that no deal would be better than a cobble together
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ppony one. some democrats, not all, patty murray bursaries is in washington. the republicans -- trying to piece together a deal more to their liking. in other words, if the scope clip could be done for them. >> isn't good for them.
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he tells his people that there's going to have to be an insurance of entitlement reform to go along with revenue increases. now, you may not be seeing it, because it's very hard the way the president does this negotiation. for that to come out and for people to understand that. but it is going on. it is going on today. the spear of the house revealed that there is a way to bridge the gap between phase one and phase two. phase one being a small package that gets rid of things and the big package, there is a way that we have iivented at the bipartisan policy center. we are very proud of it. it is an accelerated regulatory process. it is a good and exciting thing that we think will work.
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so i'm going to keep pushing. i have done it for 2.5 years. everything is on the table, mr. president. il: senator, it better be on the table. one of the things that could come up is this map that the democrats are favoring right now where they have a one to one revenue spending cut ratio. not a racial you would support and i wonder if, you know, the ratings gencies would support it. already threatening another downgrade if that were to pass. >> at a time to be pragmatic. you know, the senators talking about a pragmatic approach. i'm just worried by the time the pragmatic approach it from new mexico to washington dc, it has lost all of its meaning. i just don't have much
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confidence for the congress to do its right for the country. but you are the half-full glass guy. pulling something up that is believable, likable, supportable the framework is still in the making. there iso doubt about it. we know how to do it. the leading people, helping the president know how to do it. interestingly enough from the speaker of the house mentioned it in a public manner today. this new approach, this framework, we have provided that will work. the important thing is that just because we had an election, and just because republicans lost, it does not mean that we are all going to have a great economy and there's going to be jobs, we still have to dowhat we had to do before the election. one of them is the president
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must lead. without him leaving, we don't have a chance. if it fails, it's because he is not leading. he must lead democrats in the understanding that this is no free ride. just because they elected the president's be one of many an arrogant winner has regretted it two years later. craig, it's always good to see you. we will see how it works out. we have a lot more coming up. henry kissinger coming up only here. what does he make about the testimony behind closed doors today and how that could disrupt the economic talks. then, washington could grow the economy right off the fiscal cliff, just like priceline through really them hatner having you ship my gifts couldn't be easier.
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neil: we gave you two very different views about which direction we're headed in.3 a lot of americans are getting cynical about the course of the ongoing budget cuts. and they do give y a reason to get a little antsy. priceline.com founder jay jaywalker says it would be a bad idea to think some good can come out of all this. but you id you're not focused on a minute by minute. >> i am not at all. i'm actually focused on the future of health and medicine. which is really the future of
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innovation, job creation, and what makes america great, which is progress from unexpected direction. neil: we have no economic conditions they might as well stick a syringe everything else, right? >> there are more people working on the health of future and medicine than ever before. more people creating new devices and ideaand thinking of the future of health. >> i think nobody is looking at the health care overhaul is an answer to the fundamental question of cost control in america. we are looking at the private sector to think about those things and we are looking at operation between government and the private sector because we're going to have to deal with our health whether we do so in the doctors office doctor's office or home. we have to do it. neil: many don't seeethat cooperation.
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many want to throw it against the wall. it's not a conducive environment >> there's a lot of reasons to be concerned. if if you want to fill in texas that community tactfully. you know what, health and innovation now, we are going to need immigration lawyers. america has not come to grips with the risk ise in hell. it's going to take risk, and right now, we live in a risk-averse environment and a government environment that can take risks. in many ways they are afraid they will get criticized in th press or media. neil: they said businesses to risks and we ended up bailing them out, so we are averse to risk and that the map because every time they do this, we pay for it. >> and health and medicine, we're going to have to take risks and fire out how to create new drugs and create new
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innovation neil: synonymous with simona mr. conaway what you're talking about? >> there's there is a difference between the weather and climate. it's raining today, it's not raining tomorrow. the climate is the key. are there problems in health and medicine? you bet. we need to figure out how to do multidisciplinary research on -ow not to export testing in all kinds of things abroad. but you know something, we have more young people, more scientists, more peopl that want to come to america to innovate and people that want to leave america. neil: we have fewer than ever going into a general practice nobody really wants to be governor. that makes me think, have we made it to these so these people don't want to be near that pressi. >> it's not our problem. what we see is a generational ange over.
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it was a pretty easy job, it was pretty straightforward. now, medicine has changed. patients come in with an iphone, they come in with applications on a wire you are coordinating with all my other doctors, why are you paying attention to what everyone else is doing and why am i not part of a coordinated system. neil: by the way from come the health care laws was to address this with electronic records and all. >> the health care law says that the records are probably the answer, but it's up to the private sector to figure out how to work it. neil: jaywalker, thank you so much. all right, coming up, a lot of states refusing to set up these health care issues. why is that? what can it mean when we worry about the automatic mandate that everyone had to coverage to some of the points that they were
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neil: apparently the fiscal cliff has a lot of folks feeling bummed out. so much that they are retrenching on their holiday spending plans. in fact, retrenching altogether, saying that things could be going from bad to worse. a lot of you might be saying was apprentice, i mean, she seems like this charming little tv star. what would she know about dealing with difficulties?
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well, she was in her story. it's a very gutwrenching story. i don't want to give a lot away in the book, but she has had a childhood was very interesting. >> yesterday made me cry. on the other network. >> i'm sorry. >> if you could put things into perspective about how you deal with that. because he dealt with it yourself. before we get into the particulars of your book, what advice to give in to the people who feel over to . >> this is what i hope people take away at the end of the book. is that, you know, almost everybody has a story and has been for something almost impossible. you felt like they hit rock bottom or hit a hurdle that they
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kick it over. it's what you do with that. you know, instead of being paralyzed by back pain or that, i mean, you feel bad for a wild. but instead of letting it derail you, it can be an experienced a drop on and go forward and to pick yourself up off from. to take a different path. later, when you look back on it, as i have in my life, you realize that once you get over that, you can get over everything she people are just getting to know you in the sense of you being a little girl, the cute little girl on little house on the prairie. you had a mommy dearest kind of situation. >> i was six years old and in my johnson and johnson baby shampoo commercial, and, you know, now
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you know i'm not alone, so that's tough, i was a little house on it. it was a lot of fun. the one i thought that your mom helped make that possible? >> she was the hollywood mom come at a stage mom, whether it was school or ice skating show business. whatever it was, 24 hours driving us towards the achievement of every type. neil: there is a line between driving your kids and being a lunatic. >> you look at the impact on what it has on the kids. for me, drove me to achievement for my sister.
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she couldn't live up to the pressure and couldn't perform and never felt worthy. she only felt like she wasn't good enough. she felt like she couldn't compare. my mother really reinforce that. neil: obviously moved across the country. figure it was a big decision. there was a moment where i woke up and something very dramatic had happened, which i don't want to ruin it in the book, but there is huge crisis point and i had wanted to take and hold my own life. i have to say that this ends with me. this cycle and this madness from this ends with me and you take a different path. i'm going to choose a different way. and when she's for a chance at a joyful life. the one you have two beautiful sons and a wonderful husband. this new light, does that mean
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to you will site? >> it is with you forever, it's hard. my sister is no longewith us. how we get to that point is really worrying what happens from there. neil: a slow degradation and demise. do you think you are the stronger one? less horrible? >> may be the lucky one. i wouldn't attribute it to anything myself that. i think children are born differently. was bo in a way that she couldn't stand up to the pressure and the abuse and cruelty and everything that came her way and she took a different path and i was lucky enough to be born differently and able to endure all that. and make it into something. that is what is so nuanced about all of these relationships in the book. there are good things that come from those relationships and
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experiences. i cannot strong person. i have a tremendous work ethic and i believe in hard work and you can make yourself into whatever you want. you can take yourself out of the circumstance you came from. i had a lot of advantages despite everything in this book. i did well in school, i was able to go to harvard and do this myself from everything that had happened and make the decision, what do i want to address my life? neil: so you are saying that we don't have to be victims of our past? >> no, you don't. you can take control of your life. that's what you can take away from the book. neil: it's a really great book i wasn't exaggerating when i said this. this one is a powerful book. and if you hae a dry i a little way into it, then you're not
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he won ohio and maine, the latest to announce these health care expansions reedit we don't want any pa of a crucial component. so forget when everyone was raising a big stink about many people have health care coverage. one of this is the stuff that individual state does that. ron williams is joining us now. we make of this. >> first, let me say thank you. it's a pleasure to be here. i think there are states who are legitimately concerned about what does it mean to be in the exchange in terms of the obligations financially. at the other extreme, there are states who have been
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enthusiastically embracing these exchanges, even though it's not clear what all the rules are going to be. theris a federal backup for the fedel government will minister the exchange in that state's. neil: neil: so in the end, it could be what some people are opposed to what this law, with a raise at the outset? remapped we could get to a single-payer system? >> i think that's a little further than what i would see at this point. the bigger question is exchanges in who they are being administered by. the question is the affordability of health care in the country. one of the changes that could be made if the financing of the entitlement program to deal with the deficit and the debt. neil: a lot of folks are looking
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at what has been happening. health care premiums rocketing before the law, since the law. they are shocked. a lot of people say they can't believe that there's a there's a lot of companies, wal-mart you restaurants, scaling back hours for their workers were their health care coverage because this is getting so big so fast. we make of that? >> well, i think it is fair to say that we also have to remember that the premiums are a reflection of underlying health care costs. we all want to health care services that we have. neil: if you obviously want to cover those pre-existing conditions, the kids on your policy being kept a little longer, i'm not the sharpest tool in the shed, but it would come to reason that things would go up a lot. >> i think it's fair to say that the benefits that are being offered are more comprehensive. when you get more coming to pay
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more for that. so i think we are going to see cost preure in terms of the more comprehensive nature of the benefits. i think one of the things that we are seeing is employers increasing their partipation in the consumer directed plans. where there is a higher deductible and the consumer has more game. neil: thank you very much for coming. we appreciate it. neil: in the meantime, you might have heard that david petraeus s speaking to a house committee about what he knew about benghazi and when he knew it. indications are that early on he recognized it as a terror attack. the targeted because we weren't in there. henry kissinger on the implicatio of that testimony and this benghazi crisis.
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neil: are right, it was behind closed doors. but we are learning that they've drifted to lawmakers that his deadly raid on benghazi was a terrorist attack. the administration withheld this suspected role of specific al qaeda affiliate in that attack. but that the general was adamant that there was no politicization of the process at the time and no interference or political agenda. we are told from democrats interpreting hughes remarked that they debunk bad idea. but this is now a growing scandal for the white house. it is hard to say this much. benghazi will remain in the news for some time to come. henry kissinger joins me right now, former secretary of state. we do know that it is calling
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into question communication. communication in our intelligence system. are you worried about tht? >> in my personal experience, it used to be fairly automatic that intelligence information to the white house and the security advisor could take the appropriate measures in place. , it is definitely difficult. neil: when you heard the first reports that the administration is sticking to a narrative this was all inspired by a video, and then we came to discover that no, almost immediately, they
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might have known it was a terror attack. but they didn't say that. what you think of that? >> well, they might have formed some opinions befo it had happened and put it into the framework of those opinions. i look at that issue from a somewhat different perspective. because i have known that the largest single contingent of al qaeda came from [inaudible] so that the place where benghazi was located had been known as a hotbed. when i read about this without
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intelligence, particularly, i thought that it was you know, one of the radical groups being involved. they were communicating inside the government. neil: now you are worried about this general petraeus affair scandal. i don't want to get into the details of that, but i did find it curious that it was the fbi that has been leading this investigation on him and what he knew. and it raises concerns that the cia and fbi are at it again or at war again. we think? >> well, i have obserd the privilege of knowing general petraeus for nearly a decade.
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i think he's a great man. so i have the feeling that he had done things for the country in iraq and afghanistan. neil: on all that, sir. the cia and the fbi -- [talking over each other] >> [inaudible] it can be that the criteria of a particular investigation, i don't want to question the motives of the fbi. i am sure that they -- they have
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gone by the instructions of which they operate. neil: when you are under president nixon, even when the administrations were competing, they thought that was okay. they thought they were doing better for the country. >> the fbi did it to prove the job. they did the internal pursuit of espionage in this country. they operated abroad. sometimes these lines might cross.
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i did not come across it during the watergate period. neil: we are not after that. this is a scandal that grows in your opinion? or not? >> you know, i endorsed governor romney. but i would like now to the new administration could start without avoidable controversy. but the information was known at a high-level, it is a matter
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that the countries want to look into. on the whole, i would like to focus on the future. to not have beginning of administration. that would be my attitude. this evidence developed of the major capacity, there will be consequences. neil: we are going to take a quickbreak. the middle east and israel. you have hamas, you have a rom, you have hamas, you have a rom, here we go again. 4g lte is the fastest.
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so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a different chart. going that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networks combined.
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neil: welcome back. i know we have our own fiscal cliff to deal with and there is this petraeus crisis, but i hate to burst your bubble. there is a war starting in the middle east right now. israel, hamas, we have a ron and henry kissinger weighing in. how big is this getting? this whole israeli mass? >> it is the middle east, it is the direction of the arab spring has taken. the iranian nuclear program. sitting amidst all of this.
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[inaudible] neil: how do the other arab nations feel about hamas i heard him saying them saying that they are not fans of hamas. but their public stance versus their private views, they're very different. >> hamas would say that they are a radical organization. they are not involved in the arab spring. even egypt, their population is
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rapidly growing. so i don't know any with the exception of iran, that would encourage hamas to have the retaliation of you groups. they do have an interest. because it will demonstrate and they look at you in conflict, the shia radicalism. it makes it so complex.
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even on the sunni side, many of the groups. neil: we stand byisrael, what is our policy? >> both candidates have made very clear that they stand behind israel. neil: some feel that he has been divorcing himself from israel. >> we continue to be.
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>> they upply this during the war. i don't believe there would be a general middle east war with israel and its neighbors right now. iran has an interest in doing ttis because they know that e nuclear issue is moving towards a climax. and they are trying to figure out how to deal with a nuclear problem that could be delayed. so they make themselves the spokesman of the middle east. countries like egypt, those in the middle east, those at this
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moment. neil: what they felt threatened enough and they knew where the subterfuges were, how likely do you think that it's? >> i used to think it was not very likely. at the beginning of the campaign i thought it was approaching 5050. but i think now it is a configuration of the israelis. because these enrichment plans are moving underground. and therefore they are within a measurable amount of time with theeisraelis. what they want is the negotiating process. they have been asked by the
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president to look at the diplomatic process and let it work, and benjamin netanyahu has said tha there is some limited time,there is no question that iran keeps building up its enrichment capabilities. at some point, in 2007, the cia made a report that by 2015, they cod have up to 10 nuclear weapons. that clock is running out. the united states -- both parties have said that this is
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unacceptable. this is a choice before us in 2013. neil: secretary, it's a real pleasure. look great and sound great. very good having you. have a wonderful thanksgiving. henry kissinger, you have a great sense of humor too. you know, more comedians in the 60s and 70s were doing impressions of henry kissinger and any other public speaker. henry kissinger, not too shabby. henry kissinger, not too shabby. we will keep an eye on ally bank. henry kissinger, not too shabby. we will keep an eye on why they have a raise your rate cd.
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tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. ♪
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